2024 Second Quarter GDP Sees %10.5 Growth

The Statistical Institute of Belize also provided an overview of the G.D.P. report for 2023 and the second quarter of 2024. According to S.I.B.’s data, G.D.P. for 2023 totaled five point one billion dollars. That is an increase of fifty-three million dollars when compared to 2022’s G.D.P. As for the second quarter G.D.P. for 2024, S.I.B. says there has been an increase of one hundred and thirty-five million dollars when compared to the second quarter of 2023.

 

Christopher Hulse, Statistician 2, S.I.B

“Now looking at the second quarter of 2024, the goods and services produced in that period totaled one point four three two billion dollars. This is an increase of a hundred and thirty–five point nine million, or ten point five percent when we compare that to the second quarter of 2023. The primary economic growth drivers were the tertiary industry, including wholesale and retail trade, accommodations and food services as well as transportation. However, growth was shown across all three sectors. The primary sector was valued at a hundred and seven point eight million dollars. That is an increase of five point eight million or five point six percent when we compare that to the hundred and two point one million dollars in quarter two of 2023.”

 

The Statistical Institute of Belize also reported that the national inflation rate for August 2024 increased by three point one percent when compared to August 2023. This was driven by an increase in prices in all categories.